China’s biggest online-video company Youku.com has submitted its application for a US listing with plans to raise as much as US$150 million in an initial public offering, Bloomberg reported. Youku plans to use the proceeds to upgrade technology and to fund an expansion aimed at attracting a wider audience by adding commercially produced videos. Youku recorded a net loss of US$26.7 million in 2009 and has long-term debt of US$2.1 million, with cash and cash equivalents of US$44.2 million, according to its filing. Youku’s biggest mainland rival Tudou.com last week also submitted plans for a NASDAQ listing.